Vauxhall | The Guardianhttps://www.theguardian.com/business/vauxhall
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Vauxhall Astra: car review | Martin Lovehttps://www.theguardian.com/technology/2017/apr/30/vauxhall-astra-car-review
<p>Most police cars are Vauxhall Astras. Why not buy your own – and pretend you’re in an unmarked squad car</p><p><strong>Price: £16,615<br>Top speed: 121mph<br>0-62mph: 10.5 seconds<br>MPG: 65.7<br>CO2: 99g/km</strong></p><p>Police forces around the world love flexing their muscles with a wildly inappropriate squad car. Famously, the Italian carabinieri once splashed out on a Lamborghini Gallardo (0-60mph 3.7 seconds; top speed 203mph). The German bundespolizei weren’t to be outdone, however, and soon bought a hyper-charged Brabus Rocket (3.2 seconds; 225mph). Both of these were then left for dust when Dubai’s police dept joined the race and put their officers into a Bugatti Veyron (2.5 seconds; 268mph). And if getaway drivers thought they’d have an easier time in Britain, they should note that Avon &amp; Somerset owns an Ariel Atom (2.5 seconds; 168mph). Clearly these pursuit vehicles are the exception. Of the 19,964-strong fleet currently owned by the UK’s 43 constabularies, the bulk are <a href="http://www.vauxhall.co.uk/vehicles/vauxhall-range/cars/new-astra/overview.html">Vauxhall Astras or Ford Focuses</a>.</p> <a href="https://www.theguardian.com/technology/2017/apr/30/vauxhall-astra-car-review">Continue reading...</a>MotoringTechnologyVauxhallGeneral MotorsSun, 30 Apr 2017 05:00:19 GMThttp://www.theguardian.com/technology/2017/apr/30/vauxhall-astra-car-reviewPhotograph: PR Company HandoutPhotograph: PR Company HandoutMartin Love2017-04-30T05:00:19ZVauxhall to end sponsorship deal with England and other home nationshttps://www.theguardian.com/football/2017/mar/29/vauxhall-end-seven-year-sponsorship-football-england-wales-scotland-northern-ireland
• Seven-year deal to end when contract expires after 2018 World Cup <br />• Car manufacturer has been teams’ lead sponsor since 2011<p>Vauxhall is to end its seven-year headline sponsorship deal with England, Scotland, Wales and Northern Ireland when its contract expires after the 2018 World Cup.</p><p>The deal, believed to be worth £6m a year to the English Football Association alone, <a href="https://www.theguardian.com/football/2011/jan/10/fa-home-international-tournament" title="">was signed in 2011</a> and renewed thereafter. But in a statement the car manufacturer said it would sever its links with all four national associations next year.</p><p> <span>Related: </span><a href="https://www.theguardian.com/football/blog/2017/mar/29/international-football-10-talking-points-from-the-latest-matches">International football: 10 talking points from the latest matches</a> </p> <a href="https://www.theguardian.com/football/2017/mar/29/vauxhall-end-seven-year-sponsorship-football-england-wales-scotland-northern-ireland">Continue reading...</a>FootballEnglandThe FAWalesScotlandNorthern IrelandVauxhallSportWed, 29 Mar 2017 12:52:38 GMThttp://www.theguardian.com/football/2017/mar/29/vauxhall-end-seven-year-sponsorship-football-england-wales-scotland-northern-irelandPhotograph: Nick Potts/PAPhotograph: Nick Potts/PAGuardian sport2017-03-29T12:52:38ZPeugeot-Vauxhall deal could hit UK steel industry | Lettershttps://www.theguardian.com/business/2017/mar/13/peugeot-vauxhall-deal-could-hit-uk-steel-industry
<p>You give no context for your photograph of a worker cleaning a melting pot at the Salzgitter steelworks (Bringing a shine to steelworks, 8 March). To provide some background, you might like to point out to your readers that the local state of Lower Saxony holds shares in Salzgitter and also in Volkswagen. This doubtless helps ensure that the steel maker gets plenty of offers from the car group. By contrast, Port Talbot’s largest car customer is Vauxhall, which, according to the APPG report, buys 70% of steel requirements from this plant. The purchase of Opal/Vauxhall by Peugeot, which is owned by the French government, might well result in French steel mills supplying more to this group at the expense of Port Talbot.<br><strong>Graham Cooper</strong><br><em>Church Stratton, Shropshire</em></p> <a href="https://www.theguardian.com/business/2017/mar/13/peugeot-vauxhall-deal-could-hit-uk-steel-industry">Continue reading...</a>VauxhallSteel industryPeugeotUK newsAutomotive industryWalesBusinessFranceGermanyMon, 13 Mar 2017 19:55:02 GMThttp://www.theguardian.com/business/2017/mar/13/peugeot-vauxhall-deal-could-hit-uk-steel-industryPhotograph: Alamy Stock PhotoPhotograph: Alamy Stock PhotoLetters2017-03-13T19:55:02ZBrexit and Bochum haunt Vauxhall in the new battle for Ellesmere Porthttps://www.theguardian.com/business/2017/mar/11/vauxhall-brexit-ellesmere-port-bochum-haunt-battle
<p>The factory that won an Anglo-German struggle for the right to make the Astra just five years ago is once again confronting a highly uncertain future</p><p>Vince Cable pushed at the revolving door of General Motors’ New York offices and stepped into the bustle of a February afternoon in Manhattan. As he scanned the street for his awaiting taxi, the then business secretary breathed a huge sigh of relief.</p><p>It was 2012, and Cable had just persuaded Dan Akerson, then chief executive of car giant General Motors, to hand production of the seventh-generation Astra to Britain.</p> <a href="https://www.theguardian.com/business/2017/mar/11/vauxhall-brexit-ellesmere-port-bochum-haunt-battle">Continue reading...</a>VauxhallGeneral MotorsAutomotive industryPeugeotCitroënBrexitManufacturing sectorEuropean UnionForeign policyPoliticsUK newsBusinessMergers and acquisitionsSat, 11 Mar 2017 16:00:38 GMThttp://www.theguardian.com/business/2017/mar/11/vauxhall-brexit-ellesmere-port-bochum-haunt-battlePhotograph: Paul Ellis/AFP/Getty ImagesPhotograph: Paul Ellis/AFP/Getty ImagesKarl West2017-03-11T16:00:38ZTheresa May must give Vauxhall assurances over Brexit, says Labourhttps://www.theguardian.com/business/2017/mar/06/theresa-vauxhall-brexit-labour-peugeot-psa-nissan-uk
<p>Peugeot owner PSA should get similar guarantees to Nissan when it takes over UK carmaker, says shadow business secretary</p><p>Theresa May is facing calls to guarantee that Brexit will not harm the operations of Vauxhall after PSA, the French owner of Peugeot and Citroën, announced a deal to buy the British car manufacturer.</p><p>Labour said the company would need stronger assurances from the government about UK carmaking after Brexit, despite <a href="https://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motors">PSA’s claim that it wants to avoid factory closures and job cuts in the UK</a>. Vauxhall employs 4,500 people at plants in Ellesmere Port, Merseyside, and Luton, Bedfordshire.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/06/vauxhalls-luton-and-ellesmere-port-factories-will-face-battle-after-2021">Vauxhall's Luton and Ellesmere Port factories will face battle after 2021</a> </p> <a href="https://www.theguardian.com/business/2017/mar/06/theresa-vauxhall-brexit-labour-peugeot-psa-nissan-uk">Continue reading...</a>VauxhallGeneral MotorsPeugeotAutomotive industryBusinessTheresa MayPoliticsUK newsMon, 06 Mar 2017 20:03:56 GMThttp://www.theguardian.com/business/2017/mar/06/theresa-vauxhall-brexit-labour-peugeot-psa-nissan-ukPhotograph: Tony Margiocchi/Barcroft ImagesPhotograph: Tony Margiocchi/Barcroft ImagesRowena Mason, Graham Ruddick and Julia Kollewe2017-03-06T20:03:56ZPeugeot sale is an 'opportunity', says Clark. An opportunity for pigs to fly | John Cracehttps://www.theguardian.com/politics/2017/mar/06/mps-struggle-buy-greg-clarks-spin-successful-peugeot-takeover-rebecca-long-bailey
<p>Business secretary begs MPs to see Vauxhall sale in positive light as Labour’s Rebecca Long-Bailey asks if 40,000 jobs are guaranteed</p><p>Britain is open for business, insisted Greg Clark. The only fly in the ointment was that it was principally open for overseas companies flogging their UK assets to other overseas companies. But the business secretary is by nature an optimist and was determined to cast General Motors’ <a href="https://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motors">sale of Vauxhall to Peugeot</a> in a positive light. </p><p>The devaluation of the pound against the dollar as a result of the Brexit vote was just a total coincidence and the <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live">US-firm General Motors</a> had been absolutely delighted by the windfall losses on its UK assets; this was a deal that showed Britain was in rude health.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motors">Peugeot-Citroën chief vows to save jobs in Vauxhall/Opel takeover</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/politics/2017/mar/05/rebecca-long-bailey-no-seat-safe-labour-mp-potential-party-leader">Labour MPs hit out at suggestions they want to replace Jeremy Corbyn</a> </p> <a href="https://www.theguardian.com/politics/2017/mar/06/mps-struggle-buy-greg-clarks-spin-successful-peugeot-takeover-rebecca-long-bailey">Continue reading...</a>General MotorsVauxhallPeugeotAutomotive industryJeremy CorbynGreg ClarkBusinessPoliticsUK newsLabourMon, 06 Mar 2017 19:53:03 GMThttp://www.theguardian.com/politics/2017/mar/06/mps-struggle-buy-greg-clarks-spin-successful-peugeot-takeover-rebecca-long-baileyPhotograph: PAPhotograph: PAJohn Crace2017-03-06T19:53:03ZMartin Rowson on the Vauxhall/Opel takeover – cartoonhttps://www.theguardian.com/commentisfree/picture/2017/mar/06/martin-rowson-on-the-vauxhall-opel-takeover-cartoon
<a href="https://www.theguardian.com/commentisfree/picture/2017/mar/06/martin-rowson-on-the-vauxhall-opel-takeover-cartoon">Continue reading...</a>VauxhallTheresa MayBoris JohnsonAutomotive industryBusinessPoliticsGeneral MotorsBrexitForeign policyMon, 06 Mar 2017 19:40:42 GMThttp://www.theguardian.com/commentisfree/picture/2017/mar/06/martin-rowson-on-the-vauxhall-opel-takeover-cartoonIllustration: Martin RowsonIllustration: Martin RowsonMartin Rowson2017-03-06T19:40:42ZVauxhall's Luton and Ellesmere Port factories will face battle after 2021https://www.theguardian.com/business/2017/mar/06/vauxhalls-luton-and-ellesmere-port-factories-will-face-battle-after-2021
<p>UK plants will face stiff competition from Peugeot, Citroën and Opel factories over right to produce next-generation vehicles</p><p>Vauxhall’s factories in Ellesmere Port and Luton will have to battle with Peugeot, Citroën, and Opel plants across Europe to win the right to produce vehicles beyond 2021.</p><p>The future of Vauxhall’s sites is secure until then because PSA Group, which has bought Vauxhall and Opel from General Motors, has pledged to recognise existing production commitments. Ellesmere Port is scheduled to produce the Astra until 2021 while Luton will make the Vivaro van until 2025.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/06/vauxhall-workers-luton-ellesmere-port-psa-group-takeover">PSA sale no surprise to Vauxhall workers used to facing uncertain fate</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/commentisfree/2017/mar/06/the-guardian-view-of-the-car-industry-an-electric-future">The Guardian view of the car industry: an electric future | Editorial</a> </p> <a href="https://www.theguardian.com/business/2017/mar/06/vauxhalls-luton-and-ellesmere-port-factories-will-face-battle-after-2021">Continue reading...</a>VauxhallAutomotive industryGeneral MotorsBusinessPeugeotUK newsEuropeWorld newsMon, 06 Mar 2017 19:22:25 GMThttp://www.theguardian.com/business/2017/mar/06/vauxhalls-luton-and-ellesmere-port-factories-will-face-battle-after-2021Photograph: Paul Ellis/AFP/Getty ImagesPhotograph: Paul Ellis/AFP/Getty ImagesGraham Ruddick2017-03-06T19:22:25ZThe Guardian view of the car industry: an electric future | Editorialhttps://www.theguardian.com/commentisfree/2017/mar/06/the-guardian-view-of-the-car-industry-an-electric-future
The world is moving faster than we think towards more automated vehicles powered by renewable energy<p>Gone are the days when cars made in Britain were British. Monday’s sale of Vauxhall/Opel to Peugeot meant only the transfer of two large English factories from the German subsidiary of an American firm to a French company, accompanied by the <a href="https://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motors" title="">ritual promises</a> that jobs would be safe. These seem insubstantial, given that the new management plans to save €1.7bn a year from the old Opel operation, while the Vauxhall factories made a heavy loss after the pound’s post-referendum slide. Yet the contortions of government policy which once accompanied threats to the car industry went quite unseen this time. But there is one small aspect of the deal in which it appears that Mrs May’s industrial strategy might be an intelligent deployment of very limited resources. The future of the car industry is clearly electric, and the development of battery technology – something the government plans to support – will be vital.</p><p>Against the <a href="https://www.ft.com/content/8c94a2f6-fdcd-11e6-8d8e-a5e3738f9ae4" title="">protectionism</a> practised by the Chinese government, which is determined to dominate the world market, and to supplant the Japanese and Korean firms which now provide most of the world’s batteries, any effort by the British government is likely to prove inadequate. Especially a British government which has ended its own participation in the single market; but at least it is playing in the right game.</p> <a href="https://www.theguardian.com/commentisfree/2017/mar/06/the-guardian-view-of-the-car-industry-an-electric-future">Continue reading...</a>Electric, hybrid and low-emission carsVauxhallPeugeotTheresa MayMon, 06 Mar 2017 19:09:33 GMThttp://www.theguardian.com/commentisfree/2017/mar/06/the-guardian-view-of-the-car-industry-an-electric-futurePhotograph: Miles Willis/Getty Images for Go Ultra LowPhotograph: Miles Willis/Getty Images for Go Ultra LowEditorial2017-03-06T19:09:33ZStandard Life's Aberdeen deal means job losses – but avoids US takeoverhttps://www.theguardian.com/business/nils-pratley-on-finance/2017/mar/06/standard-life-aberdeen-merger-us-scottish
<p>Hooking up with another Scottish firm makes sense, though there may be boardroom trouble further down the line</p><p>Martin Gilbert of Aberdeen Asset Management, we thought, only had eyes for American suitors. He has been singing for ages about the appeal of the US, home of vast piles of investment cash, and he was an admirer of Anglo-Australian manager Henderson’s “clever” merger with Janus Capital of the US.<br></p><p>In the end, though, he has settled on a partner led by his old fishing chum Keith Skeoch 100 miles away in Edinburgh. Standard Life’s presence in the US, however, is rather like Aberdeen’s – small.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/06/job-losses-likely-standard-life-aberdeen-asset-management-merger">Standard Life and Aberdeen seek to tie in key staff in £11bn merger</a> </p> <a href="https://www.theguardian.com/business/nils-pratley-on-finance/2017/mar/06/standard-life-aberdeen-merger-us-scottish">Continue reading...</a>Standard LifeInsurance industryVauxhallGeneral MotorsAutomotive industryPeugeotFinancial sectorAberdeen Asset ManagementBusinessPoliticsScotlandUK newsMon, 06 Mar 2017 19:02:24 GMThttp://www.theguardian.com/business/nils-pratley-on-finance/2017/mar/06/standard-life-aberdeen-merger-us-scottishPhotograph: Jeff J Mitchell/Getty ImagesPhotograph: Jeff J Mitchell/Getty ImagesNils Pratley2017-03-06T19:02:24ZIn the Vauxhall towns, workers view PSA takeover with uneasehttps://www.theguardian.com/business/2017/mar/06/vauxhall-workers-luton-ellesmere-port-psa-group-takeover
<p>Employees at plants in Ellesmere Port and Luton have heard about threats to their jobs before but are hoping for the best</p><p>Walk around the Cheshire town of Ellesmere Port and it is hard to find a person who does not know someone who has worked for Vauxhall. All seem unsurprised by Monday’s announcement that <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live">PSA Group is to buy the company</a>.</p><p>Kirsty Butler, 27, who is out shopping with her two children, says she is used to hearing about threats to the future of the Vauxhall plant, which employs about 2,000 people. “I read about a guy who had worked there for 26 years and was told his job was at risk every single year,” she says. “I don’t think they’ll close it. It would be a daft move.”</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motors">Peugeot-Citroën chief vows to save jobs in Vauxhall/Opel takeover</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live">Vauxhall sold: Peugeot plays down job cuts and Brexit fears - as it happened</a> </p> <a href="https://www.theguardian.com/business/2017/mar/06/vauxhall-workers-luton-ellesmere-port-psa-group-takeover">Continue reading...</a>VauxhallAutomotive industryGeneral MotorsUK newsLutonPeugeotBusinessMon, 06 Mar 2017 18:59:58 GMThttp://www.theguardian.com/business/2017/mar/06/vauxhall-workers-luton-ellesmere-port-psa-group-takeoverPhotograph: Facundo Arrizabalaga/EPAPhotograph: Facundo Arrizabalaga/EPAFrances Perraudin and Gwyn Topham2017-03-06T18:59:58ZVauxhall sold: Peugeot plays down job cuts and Brexit fears - as it happenedhttps://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live
<p>PSA Group says workers will get a chance to show what they can do, after buying Opel-Vauxhall from General Motors in a €2.2bn deal</p><ul><li><a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd82bce4b09c1763ef6ba9#block-58bd82bce4b09c1763ef6ba9">Business secretary Greg Clark answers urgent question on Vauxhall</a></li><li><a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd26eee4b047c20d905d91#block-58bd26eee4b047c20d905d91">Hard Brexit could boost UK auto suppliers, claims PSA</a></li><li>Peugeot: <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd238ce4b047c20d905d7f#block-58bd238ce4b047c20d905d7f">We don’t need to close factories</a></li><li>French car firm promises to abide by union deals...</li><li>...but some experts fear job cuts</li><li>HIGHLIGHTS: <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd1a57e4b09c1763ef69bd#block-58bd1a57e4b09c1763ef69bd">PSA press conference</a></li><li><a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd0d4ae4b07c254ae22922#block-58bd0d4ae4b07c254ae22922">ANNOUNCEMENT: GM sells Opel-Vauxhall to PSA</a></li></ul><p class="block-time published-time"> <time datetime="2017-03-06T18:03:32.250Z">6.03pm <span class="timezone">GMT</span></time> </p><p>After their recent highs, stock markets are on the back foot at the start of the week, with the banking sector hit by Deutsche Bank’s €8bn cash call and the commodities sector undermined by falling metal prices after key consumer China cut its growth forecasts for this year.</p><p>Sentiment was also dented by news of North Korea launching missiles and Donald Trump accusing Barack Obama of tapping his phone during the US election campaign.</p><p class="block-time published-time"> <time datetime="2017-03-06T17:20:47.499Z">5.20pm <span class="timezone">GMT</span></time> </p><p>Here’s more from Greg Clark’s comments on the Vauxhall deal made earlier in parliament, courtesy PA:</p><p>Clark said the sale was linked to a wider restructuring of General Motors rather than Brexit. </p><p>When asked whether all automotive companies would get the same deal as Nissan, he added: “We’ve said that by being part of the UK automotive sector, all of the benefits of that in terms of research and development, in terms of trading, in terms of the expansion we see through the industrial strategy of the supply chain, will be available to all such companies.” </p><p class="block-time published-time"> <time datetime="2017-03-06T16:36:31.337Z">4.36pm <span class="timezone">GMT</span></time> </p><p>Back with market reaction to the deal. Jasper Lawler, senior market analyst at London Capital Group, said:</p><p>Markets know that when PSA CEO Carlos Tavares talks about synergies, he means job cuts. PSA were likely in the “driver’s seat” in negotiations since after a decade and a half of losses, GM clearly wanted to get shot of Opel and Vauxhall. Through the Opel brands, PSA have a new opportunity for expansion in China, where French car brands have not been so popular.</p><p>For the moment, PSA will pay GM for intellectual property, meaning car-buyers can expect to be buying GM standards for the next few years. Eventually Vauxhall will morph into Peugeot so a big question longer term will be how many Vauxhall drivers stay loyal. From a GM shareholder perspective it’s pretty cut and dry; the deal removes a loss-making division from the balance sheet and the proceeds will directly line their pockets via share repurchases.</p><p class="block-time published-time"> <time datetime="2017-03-06T16:20:26.472Z">4.20pm <span class="timezone">GMT</span></time> </p><p><em>Jim Cunningham urges caution, warning that the promises made need to be kept as they have not always been in the past.</em></p><p>Clark: I am cautiously optimistic. The commitments go in the right direction.</p><p> <span>Related: </span><a href="https://www.theguardian.com/politics/blog/live/2017/mar/06/jeremy-corbyn-hits-back-at-critics-over-his-tax-return-saying-his-taxes-fully-paid-politics-live">Corbyn accuses 'media barons' of hypocrisy over tax transparency - Politics live</a> </p><p class="block-time published-time"> <time datetime="2017-03-06T16:09:41.837Z">4.09pm <span class="timezone">GMT</span></time> </p><p><em>Geoffrey Robinson says the reassurances are very limited in extent and duration, and he refers to the closure of the plant at Ryton, adding that the only reassurance that counts is getting replacement models in the UK and the government should push for this.</em></p><p>Clark says we do need to stay engaged and make sure these commitments are delivered. It is important these commitments have been given, and in writing. It is a different management now {to the time when Ryton was closed] and the strategy is not based on closing plants.</p><p class="block-time published-time"> <time datetime="2017-03-06T16:01:04.072Z">4.01pm <span class="timezone">GMT</span></time> </p><p><em>Alistair Burt, wants assurances that jobs in the supply chain are secure.</em></p><p>Clark says both the direct workforce and supply chain part of our discussions. [This is] an opportunity to expand the supply chain.</p><p class="block-time published-time"> <time datetime="2017-03-06T16:00:09.337Z">4.00pm <span class="timezone">GMT</span></time> </p><p><em>Shadow minister Rebecca Long Bailey says workers will be worried about the future of their jobs, and what assurances are there on the Vauxhall plant beyond the existing contracts. Will the production of the new Astra model take place in the UK? With the GM pension deficit, are pensions guaranteed in full?</em></p><p><em>The government has little power in takeovers - are there any plans to broaden the definition of public interest in takeovers. What support was offered to PSA following Britain’s exit from the European Union?</em></p><p class="block-time published-time"> <time datetime="2017-03-06T15:55:08.440Z">3.55pm <span class="timezone">GMT</span></time> </p><p><strong>Greg Clark, business, energy and industrial strategy secretary, is answering questions in parliament on the Vauxhall takeover.</strong><br></p><p>He said the discussions which have taken place can give confidence to the Vauxhall workforce now and for the future.</p><p class="block-time published-time"> <time datetime="2017-03-06T14:59:52.585Z">2.59pm <span class="timezone">GMT</span></time> </p><p>General Motors shares have opened lower in early US trading following the deal to sell Opel-Vauxhall to Peugeot.</p><p>They are currently down 0.5%, worse than the 0.2% decline on the Dow Jones Industrial Average. The overall market has been hit by a number of new concerns, not least <a href="https://www.theguardian.com/world/2017/mar/06/north-korea-fires-unidentified-projectile-into-sea-of-japan">the launch of four missiles by North Korea</a> and <a href="https://www.theguardian.com/us-news/2017/mar/06/fbi-director-challenges-trump-over-obama-wiretap-claims-reports">Donald Trump’s accusations that his were tapped on the orders of Barack Obama.</a></p><p class="block-time published-time"> <time datetime="2017-03-06T14:53:27.914Z">2.53pm <span class="timezone">GMT</span></time> </p><p>PA also has more comments from Vauxhall workers arriving for work:</p><p>Workers clocking in for their afternoon shift at Luton’s Vauxhall plant reacted with a mix of emotions to news of the company’s sale to French group PSA. </p><p>Many staff who were yet to start their shift said they only heard about it on the news or online, not from their employer. </p><p class="block-time published-time"> <time datetime="2017-03-06T14:50:46.268Z">2.50pm <span class="timezone">GMT</span></time> </p><p>More from the prime minister’s spokesman on Vauxhall, courtesy the Press Association:</p><p>Mrs May’s official spokesman insisted that no specific assurances had been given to Peugeot to secure the future of the UK plants. </p><p>The PM had made clear to the company that she wanted the “long history of success” at Vauxhall to continue in this country, said the spokesman. </p><p class="block-time published-time"> <time datetime="2017-03-06T14:19:38.751Z">2.19pm <span class="timezone">GMT</span></time> </p><p>Time for a quick recap, with links to the main points.</p><p><strong>General Motors has denied that job cuts are inevitable after agreeing the sale of its European operations to PSA Group.</strong></p><p>The prime minister set out to Ms Barra the importance of the Vauxhall brand to the UK and reiterated her desire for the jobs at both plants to be secured for the long term.</p><p>Ms Barra made clear that Vauxhall would remain a British brand and that the deal would recognise and respect all agreements regarding the workforce.</p><p>There is no doubt that we have some of the most efficient plants in Europe so we have a good tale to tell and we should not underestimate the positive impact on sales that having a U.K. manufacturing base brings.</p><p>There should be no doubt that one of the biggest selling points to UK consumers is that Vauxhall is a British brand that supports British jobs. That is something that I know will be stressed to PSA.</p><p class="block-time published-time"> <time datetime="2017-03-06T14:02:18.907Z">2.02pm <span class="timezone">GMT</span></time> </p><p><strong>General Motors was adamant this morning that its European business would have broken even last year, if it wasn’t for the Brexit vote.</strong></p><p>As this chart show, that didn’t happen -- although GM has been clawing its way back to profitability since the financial crisis....</p><p lang="en" dir="ltr">17 years of GM losses in Europe, all in one chart. Total = $22.5 billion <a href="https://t.co/QPkCqnt1mR">pic.twitter.com/QPkCqnt1mR</a></p><p class="block-time published-time"> <time datetime="2017-03-06T14:00:17.886Z">2.00pm <span class="timezone">GMT</span></time> </p><p>Vauxhall workers at Ellesmere Port arrived for work under the glare of TV cameras and photographers this morning:</p><p class="block-time published-time"> <time datetime="2017-03-06T13:39:34.974Z">1.39pm <span class="timezone">GMT</span></time> </p><p><strong>Tony Burke, assistant general secretary of the Unite union, doesn’t share <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd61d6e4b047c20d905ea6#block-58bd61d6e4b047c20d905ea6">John Longworth’s optimism that the car industry will thrive after Brexit.</a></strong></p><p>If the UK loses membership of the single market, and the customs union, it will also lose the “frictionless” supply chain that allows components to move freely back and forth across the channel, Burke warns.</p><p class="block-time published-time"> <time datetime="2017-03-06T13:26:36.181Z">1.26pm <span class="timezone">GMT</span></time> </p><p><strong>John Longworth, who resigned as head of the British Chambers of Commerce last year over his support for Brexit, has denied that the EU referendum vote will hurt the car industry.</strong></p><p>He tells the World At One that if Britain get a ‘clean break’ from the EU, it could potentially slap import tariffs on cars made in Europe. That would make UK-made Vauxhalls 27% cheaper than comparable models, Longworth argues, boosting domestic demand.</p><p class="block-time published-time"> <time datetime="2017-03-06T13:14:40.592Z">1.14pm <span class="timezone">GMT</span></time> </p><p><strong><a href="http://www.bbc.co.uk/radio4">Radio 4’s The World At One </a>is looking at the Vauxhall/Opel sale now.</strong></p><p>They’ve interviewed several workers at Vauxhall’s Ellesmere Port plant today.</p><p>I think the deal is a good deal for General Motors and for Vauxhall themselves....but are they [PSA] going to give us a good pension, are they going to take over the General Motors pension scheme that we’ve been paying into for 32 years. Is the money still there?</p><p>If you have a French factory and a German factory and they’re all in the EU and one of them’s got to go, what would you say?</p><p class="block-time published-time"> <time datetime="2017-03-06T12:45:26.157Z">12.45pm <span class="timezone">GMT</span></time> </p><p>This isn’t great news for Vauxhall workers....</p><p lang="en" dir="ltr">Ex-head of <a href="https://twitter.com/GM">@GM</a> Europe tells <a href="https://twitter.com/itvnews">@itvnews</a> union "right to be worried" about UK plants. "Commitment to current model is no commitment at all".</p><p class="block-time published-time"> <time datetime="2017-03-06T12:39:50.047Z">12.39pm <span class="timezone">GMT</span></time> </p><p>Here’s a photo from this morning’s <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd1a57e4b09c1763ef69bd#block-58bd1a57e4b09c1763ef69bd">press conference in Paris,</a> as GM CEO <strong>Mary Barra </strong>(left) and PSA chairman <strong>Carlos Tavares</strong> (centre) shook hands on today’s deal. Opel CEO <strong>Karl-Thomas Neumann</strong> is on the right.</p><p class="block-time published-time"> <time datetime="2017-03-06T12:27:32.166Z">12.27pm <span class="timezone">GMT</span></time> </p><p><strong>Theresa May told General Motors yesterday that UK jobs need to be protected, as the carmaker put the finishing touches to the sale of its European arm.</strong><br></p><p>The Prime Minister set out to Ms Barra the importance of the Vauxhall brand to the UK and reiterated her desire for the jobs at both plants to be secured for the long term.</p><p>Ms Barra made clear that Vauxhall would remain a British brand and that the deal would recognise and respect all agreements regarding the workforce.</p><p lang="en" dir="ltr">Ellesmere Port Unite rep John Cooper talks to the media. He says workers are worried but remains optimistic <a href="https://twitter.com/hashtag/Vauxhall?src=hash">#Vauxhall</a> <a href="https://t.co/Jdou6jW7wd">pic.twitter.com/Jdou6jW7wd</a></p><p class="block-time published-time"> <time datetime="2017-03-06T12:04:18.334Z">12.04pm <span class="timezone">GMT</span></time> </p><p><strong>Back in the eurozone.... Greece has suffered another blow in its battle to emerge from its debt crisis.</strong></p><p>New figures show that the Greek economy shrank by 1.2% in the final three months of last year. That’s a very sharp decline, and much worse than the initial estimate of a 0.4% fall in GDP.</p><p lang="en" dir="ltr">OUCH. Greek GDP shrank 1.2 per cent in fourth quarter - three times worse than a first estimate of 0.4% Worst quarter since 2015 woes <a href="https://t.co/si5UGmBwZR">pic.twitter.com/si5UGmBwZR</a></p><p lang="en" dir="ltr">Huge downward revison to Q4 <a href="https://twitter.com/hashtag/Greek?src=hash">#Greek</a> q/q GDP growth from -0.4% to -1.2%. Tsipras, IMF &amp; EU say growth will rebound, surveys suggest otherwise <a href="https://t.co/ceZpSbs2RJ">pic.twitter.com/ceZpSbs2RJ</a></p><p class="block-time published-time"> <time datetime="2017-03-06T11:57:31.410Z">11.57am <span class="timezone">GMT</span></time> </p><p>Merging Opel and Vauxhall with Peugeot and Citroen could speed up the creation of new auto technologies.</p><p>So argues <strong>Matt Freeman,</strong> managing consultant at <a href="https://www.cap-hpi.com/en/consulting"><strong>cap hpi consulting</strong></a>, <br></p><p>“The greater scale the combined PSA-Opel will have for technology investment will see a step change in vehicle development, which requires not only investment in new powertrain technology, but also the development of a wind-down strategy for internal combustion engines.</p><p>Better scale will also create a better negotiating position when dealing with technology providers like Apple and Microsoft.”</p><p class="block-time published-time"> <time datetime="2017-03-06T11:08:01.800Z">11.08am <span class="timezone">GMT</span></time> </p><p>Here’s our news story on the sale of Vauxhall and Opel to PSA Group, and its pledge that job cuts can be avoided:</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motors">Peugeot-Citroën chief vows to save jobs in Vauxhall/Opel takeover</a> </p><p class="block-time published-time"> <time datetime="2017-03-06T10:50:03.791Z">10.50am <span class="timezone">GMT</span></time> </p><p><strong>Richard Gane</strong>, director and automotive sector specialist at supply chain firm <a href="https://vendigital.com/"><strong>Vendigital</strong></a><strong>, </strong>says this is “a bad day” for the UK car industry.</p><p>He isn’t convinced by <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd238ce4b047c20d905d7f#block-58bd238ce4b047c20d905d7f">PSA’s claim that factories won’t need to close</a>, and believes the UK government needs to offer PSA some ‘inducements’ to protect Ellesmere Port and Luton.</p><p>“GM tried to sell Vauxhall-Opel in 2008 and these businesses have been losing money since then so today’s decision to sell is not a surprise. There is great concern however, that once current production runs are completed Vauxhall’s UK-based plants at Ellesmere Port and Luton could close, forcing around 4,500 redundancies.</p><p>“While it is not yet definite that the plants will close, there is clearly concern that this could happen because in the case of the Astra, for example, around 75% of components are sourced from the EU and the vast majority of the vehicles made at Ellesmere Port are sold outside the UK. If rumours are correct and PSA Group is planning to combine platforms with Peugeot’s next new model, there would be a strong reason to exit the UK.</p><p>“The UK is a competitive player in the automotive industry thanks to its rich heritage, record levels of productivity, skilled workforce and strong collaboration with government. The outlook for vehicle production remains positive with investment commitments made over the past few years still delivering growth.</p><p>We are hopeful that this deal will provide a positive future for the plants at Luton and Ellesmere Port and the wider supply chain given their inherent advantages. We have been encouraged by the active role government has played reassuring investors of its determination to safeguard our competitiveness despite the uncertainty of Brexit.”</p><p>“Opel/Vauxhall was a profit losing puzzle no one at GM could solve for decades, and outside forces such as Brexit and an increasingly complex regulatory environment did not help the situation.</p><p>Unloading Opel/Vauxhall and the European part of the financing greatly improves GM’s balance sheet, allowing investments in growing markets such as China and India and frees up capital for further expansion into ride and car sharing and autonomous vehicles. </p><p class="block-time published-time"> <time datetime="2017-03-06T10:25:48.277Z">10.25am <span class="timezone">GMT</span></time> </p><p><strong>The Labour MP for Ellesmere Port, Justin Madders, is meeting business secretary Greg Clark today, in an attempt to secure the car plant’s long-term future under Peugeot-Citroën. </strong></p><p>Madders says the Vauxhall sale is an important test of the UK’s industrial strategy.</p><p>Now the new owners are in place, clearly work must begin in earnest to put UK production in the best possible position. There have been significant challenges faced in the past but thanks to great work between the union and management at Ellesmere Port those threats have been overcome so we must draw strength from previous success. There is no doubt that we have some of the most efficient plants in Europe so we have a good tale to tell and we should not underestimate the positive impact on sales that having a U.K. manufacturing base brings. There should be no doubt that one of the biggest selling points to UK consumers is that Vauxhall is a British brand that supports British jobs. That is something that I know will be stressed to PSA.</p><p>With the country now facing new trading arrangements after Brexit this is the first test of the Government’s commitment to supporting U.K. manufacturing in the new world. </p><p lang="en" dir="ltr">My statement on the Vauxhall takeover: <a href="https://t.co/hIOSqHaeZZ">https://t.co/hIOSqHaeZZ</a></p><p class="block-time published-time"> <time datetime="2017-03-06T10:12:24.408Z">10.12am <span class="timezone">GMT</span></time> </p><p><strong>The head of the Unite Union, Len McCluskey, has confirmed that PSA has promised to stick to Vauxhall’s existing commitments.</strong></p><p>Len McCluskey told Sky News that the head of the PSA Group, which makes Peugeot, had given reassurances that all commitments would be honoured as part of the deal to buy General Motors’ European operations, which include Vauxhall in Britain.</p><p>“There is a cautious optimism,” he said. “But of course the real issue is not the current products, it’s about the new models and we’ll be determined to make certain that the British plants have a long term future.</p><p class="block-time published-time"> <time datetime="2017-03-06T09:49:48.621Z">9.49am <span class="timezone">GMT</span></time> </p><p>Vauxhall workers in Merseyside are hopeful that the PSA takeover will work out, reports that BBC’s Colletta Smith:</p><p lang="en" dir="ltr">Staff cautiously optimistic about <a href="https://twitter.com/Peugeot">@Peugeot</a> takeover here at Ellesmere Port. "We've survived worse" but the 2,200 jobs only safe until 2021. <a href="https://t.co/WDo1ziqRS2">pic.twitter.com/WDo1ziqRS2</a></p><p class="block-time published-time"> <time datetime="2017-03-06T09:46:43.311Z">9.46am <span class="timezone">GMT</span></time> </p><p><strong>Labour MP Angela Eagle</strong>, whose the Merseyside constituency of Wallasey includes many Vauxhall workers, has tweeted about the deal:</p><p lang="en" dir="ltr">The new owners of Vauxhalls Ellesmere Port plant must recognise how efficient it is and safeguard jobs there in long term <a href="https://twitter.com/hashtag/PSAsale?src=hash">#PSAsale</a></p><p lang="en" dir="ltr">Govt must be proactive after PSA GM sale to protect many thousands of jobs at Vauxhall and in the supply chain <a href="https://twitter.com/hashtag/PSAsale?src=hash">#PSAsale</a></p><p class="block-time published-time"> <time datetime="2017-03-06T09:38:58.858Z">9.38am <span class="timezone">GMT</span></time> </p><p><strong>Business Secretary Greg Clark has welcomed PSA’s pledge not to rip-up existing deals with Vauxhall’s workers.</strong></p><p>“Vauxhall has a long history of success in this country and we are determined to see that continue. </p><p>The Government welcomes the assurance by PSA that they will respect the commitments made by GM to Vauxhall’s employees and pensioners. </p><p>The Prime Minister and I have been in close contact with the PSA Group and General Motors and they have been clear this deal is an opportunity to grow the Vauxhall brand, building on their existing strengths and commitments. </p><p class="block-time published-time"> <time datetime="2017-03-06T09:24:17.639Z">9.24am <span class="timezone">GMT</span></time> </p><p><a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd1a57e4b09c1763ef69bd#block-58bd1a57e4b09c1763ef69bd">The Peugeot-Citroen press conference</a> is now over...here’s some instant reaction from industry experts.</p><p lang="en" dir="ltr">Deal NOT based on job cuts, <a href="https://twitter.com/GroupePSA">@GroupePSA</a> Tavares says:<br>"We give people a chance, because they are good. They are talented…they are creative."</p><p lang="en" dir="ltr">GM &amp; PSA execs' talking points on Opel deal:<br>"win-win-win" for all 3 companies<br>"industrial logic" made sense<br>make Opel a "European champion"</p><p lang="en" dir="ltr">Barra says "changing geo-political landscape" part of reason for sale, along with "changing customer preferences."</p><p class="block-time published-time"> <time datetime="2017-03-06T09:16:42.995Z">9.16am <span class="timezone">GMT</span></time> </p><p><strong>Finally, PSA gets a question about Britain’s exit from the European Union....</strong></p><p><em>Q: What impact will Brexit have on this deal?</em></p><p>If you think deeply about the two scenarios -either it’s hard or soft.</p><p class="block-time published-time"> <time datetime="2017-03-06T09:07:52.520Z">9.07am <span class="timezone">GMT</span></time> </p><p>Journalists in Paris are pressing Peugeot-Citreon about the fears of job cuts.</p><p><em>Q: What guarantees can PSA give to workers at Opel and Vauxhall?</em></p><p>This is not tactical, this is ethics. If there is a deal, we will respect it.</p><p class="block-time published-time"> <time datetime="2017-03-06T09:00:37.989Z">9.00am <span class="timezone">GMT</span></time> </p><p>ITV’s Joel Hills gets the microphone.</p><p><em>Q: General Motors is taking a €4.5bn write-down on this deal - isn’t that a sign that it was keen to get out of Europe?</em></p><p>Everyone will have a chance to reach the benchmark of efficiency.</p><p>As we progress towards that benchmark of efficiency, we do not need to shut down plants.</p><p class="block-time published-time"> <time datetime="2017-03-06T08:53:26.653Z">8.53am <span class="timezone">GMT</span></time> </p><p><em>Q: What does this deal mean for PSA’s existing factories in Spain?</em></p><p>Speaking in French, Carlos Tavares says the Spanish factories have improved their performance in recent years. </p><p class="block-time published-time"> <time datetime="2017-03-06T08:47:13.918Z">8.47am <span class="timezone">GMT</span></time> </p><p><em>Q: PSA will have 19 factories once this deal goes through. Will you keep them all open?</em><br></p><p>PSA’s Carlos Taraves doesn’t make any promises -- instead, he signals that car workers hold their future in their own hands.</p><p class="block-time published-time"> <time datetime="2017-03-06T08:45:35.314Z">8.45am <span class="timezone">GMT</span></time> </p><p>Onto questions...</p><p><em>Q: Did the election of Donald Trump influence GM’s decision to sell its European operations?</em></p><p class="block-time published-time"> <time datetime="2017-03-06T08:40:46.391Z">8.40am <span class="timezone">GMT</span></time> </p><p><strong>Now the head of Opel, Karl-Thomas Neumann, speaks, and also sound optimistic abotu the sale to PSA.</strong></p><p>He says the deal will create a “European champion”, with Opel remaining a true German brand, and Vauxhall remaining a true British brand.</p><p class="block-time published-time"> <time datetime="2017-03-06T08:37:44.349Z">8.37am <span class="timezone">GMT</span></time> </p><p>Mary Barra is followed by GM’s president, Dan Ammann. </p><p>He says GM found it hard to grow its market share in Europe, despite making improvements at Opel and Vauxhall.</p><p lang="en" dir="ltr">GM President Dan Ammann says GM decided Opel needed more scale to succeed in Europe due to fragmenting market and increasing regulations.</p><p lang="en" dir="ltr">GM President Dan Ammann: Market scale was becoming tough to achieve, even with improvements at Opel, Vauxhall.</p><p class="block-time published-time"> <time datetime="2017-03-06T08:33:53.587Z">8.33am <span class="timezone">GMT</span></time> </p><p><strong>Shares in PSA Group have jumped by 4% in early trading, as investors give the deal the thumbs-up. </strong></p><p class="block-time published-time"> <time datetime="2017-03-06T08:32:31.830Z">8.32am <span class="timezone">GMT</span></time> </p><p>More from Mary Barra:</p><p lang="en" dir="ltr">GM CEO Mary Barra says decision to sell Opel "required thougthful and disciplined decision making about the future."</p><p lang="en" dir="ltr">Mary Barra says deal a win, win" for everyone. Says <a href="https://twitter.com/GM">@GM</a> Europe would have made money in 2016 were it not for Brexit <a href="https://t.co/Sxw2vqIM8I">pic.twitter.com/Sxw2vqIM8I</a></p><p class="block-time published-time"> <time datetime="2017-03-06T08:28:11.194Z">8.28am <span class="timezone">GMT</span></time> </p><p><strong>GM’s Mary Barra is also attending the PSA press conference in Paris. She joins Carlos Tavares on the stage now....</strong></p><p lang="fr" dir="ltr">Carlos Tavares et Mary Barra officialisent vente <a href="https://twitter.com/Opel">@Opel</a> à <a href="https://twitter.com/GroupePSA">@GroupePSA</a> ce matin au siège parisien du constructeur tricolore <a href="https://t.co/yVOjzsBB2C">pic.twitter.com/yVOjzsBB2C</a></p><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PSA?src=hash">#PSA</a> and <a href="https://twitter.com/hashtag/GM?src=hash">#GM</a> announcing sale of Opel/Vauxhall to PSA. GM's Mary Barra calls it a win for all three companies.</p><p class="block-time published-time"> <time datetime="2017-03-06T08:24:20.046Z">8.24am <span class="timezone">GMT</span></time> </p><p><strong>PSA’s chairman, Carlos Tavares, tells journalists in Paris that today’s deal will create “c</strong>reate a new European automotive champion” and unleash the full potential of Vauxhall and Opel.</p><p>Tavares insists that PSA is committed to both brands.</p><p class="block-time published-time"> <time datetime="2017-03-06T08:21:32.152Z">8.21am <span class="timezone">GMT</span></time> </p><p>You can also watch the PSA press conference on Periscope, here:</p><p lang="en" dir="ltr"> LIVE: <a href="https://twitter.com/GroupePSA">@GroupePSA</a> / <a href="https://twitter.com/GM">@GM</a> press conference <a href="https://twitter.com/hashtag/Opel?src=hash">#Opel</a> <a href="https://twitter.com/hashtag/Vauxhall?src=hash">#Vauxhall</a> <a href="https://t.co/xaF5xDplrT">https://t.co/xaF5xDplrT</a></p><p class="block-time published-time"> <time datetime="2017-03-06T08:19:32.222Z">8.19am <span class="timezone">GMT</span></time> </p><p><strong>Over in Paris, PSA Group is holding a press conference to discuss the Vauxhall/Opel deal.</strong></p><p>It’s being streamed live <a href="http://edge.media-server.com/m/p/53c2dbsy/lan/en">here</a> (in English).</p><p class="block-time published-time"> <time datetime="2017-03-06T08:13:38.610Z">8.13am <span class="timezone">GMT</span></time> </p><p><strong>The Vauxhall-Opel sale isn’t the only big deal announced this morning.</strong></p><p>Standard Life has just swooped on fellow insurance group Aberdeen Asset Management in an £11bn takeover. Standard Life’s shares have surged by 9% in early trading, while Aberdeen are up 6.5%. </p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/06/job-losses-likely-standard-life-aberdeen-asset-management-merger">Job losses likely as Standard Life and Aberdeen reveal £11bn merger terms</a> </p><p class="block-time published-time"> <time datetime="2017-03-06T08:01:33.966Z">8.01am <span class="timezone">GMT</span></time> </p><p>Here’s a bit of UK car history -- the first Vauxhall Viva rolling off the production line at the Ellesmere Port factory, back in 1964.</p><p class="block-time published-time"> <time datetime="2017-03-06T07:54:09.569Z">7.54am <span class="timezone">GMT</span></time> </p><p><strong>Politicians in Germany and Britain have been scrambling to protect workers at Opel and Vauxhall, respectively, in anticipation of <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live?page=with:block-58bd0d4ae4b07c254ae22922#block-58bd0d4ae4b07c254ae22922">this morning’s deal</a>.</strong></p><p>City analyst Louise Cooper fears that British workers could be vulnerable. She suspects that Paris government, which holds a stake in PSA, won’t want to spare Britain from the cost-cutting.</p><p lang="en" dir="ltr">French govt owns 14% of PSA<br>If job cuts needed in EU, highly unlikely PSA will cut French or German jobs &amp; leave Brits alone esp <a href="https://twitter.com/hashtag/Brexit?src=hash">#Brexit</a></p><p lang="en" dir="ltr">BREAK: Peugeot owner PSA has agreed €2.2bn deal to buy GM Europe's Opel and Vauxhall brands. Could it see jobs losses in the UK?</p><p class="block-time published-time"> <time datetime="2017-03-06T07:45:39.536Z">7.45am <span class="timezone">GMT</span></time> </p><p><strong>Labour MP Gavin Shuker</strong>, who represents Luton South, has welcomed the end to the uncertainty over Vauxhall’s future.</p><p>Shuker also points out that Vauxhall’s factories are more efficient than most of PSA’s other operations -- a reason not to consider closing them....</p><p lang="en" dir="ltr">Glad to see the uncertainty over the PSA/GM deal is now over. Our UK plants are among the most efficient of any in the new company. (1/2)</p><p lang="en" dir="ltr">They deserve a bright future. Now government needs to play its part, delivering a Brexit deal that keeps Vauxhall building in the UK. (2/2)</p><p class="block-time published-time"> <time datetime="2017-03-06T07:40:49.123Z">7.40am <span class="timezone">GMT</span></time> </p><p>Here’s the official annoucement:</p><p class="block-time published-time"> <time datetime="2017-03-06T07:40:29.748Z">7.40am <span class="timezone">GMT</span></time> </p><p>General Motor’s CEO, <strong>Mary Barra</strong>, says this deal will help GM to focus on new technologies (probably including self-driving cars?).</p><p>“We are reshaping our company and delivering consistent, record results for our owners through disciplined capital allocation to our higher-return investments in our core automotive business and in new technologies that are enabling us to lead the future of personal mobility. </p><p class="block-time published-time"> <time datetime="2017-03-06T07:31:09.119Z">7.31am <span class="timezone">GMT</span></time> </p><p><strong>PSA’s chairman, Carlos Tavares, is trying to reassure Vauxhall and Opel workers about the future.</strong></p><p>“We are proud to join forces with Opel/Vauxhall and are deeply committed to continuing to develop this great company and accelerating its turnaround.</p><p>We respect all that Opel/Vauxhall’s talented people have achieved as well as the company’s fine brands and strong heritage. We intend to manage PSA and Opel/Vauxhall capitalizing on their respective brand identities. Having already created together winning products for the European market, we know that Opel/Vauxhall is the right partner. We see this as a natural extension of our relationship and are eager to take it to the next level.”</p><p>The transaction will allow substantial economies of scale and synergies in purchasing, manufacturing and R&amp;D. Annual synergies of €1.7 Bn are expected by 2026 – of which a significant part is expected to be delivered by 2020, accelerating Opel/Vauxhall’s turnaround<br></p><p class="block-time published-time"> <time datetime="2017-03-06T07:26:34.511Z">7.26am <span class="timezone">GMT</span></time> </p><p><strong>It’s official - General Motors is pulling out of the European car market by selling its Vauxhall and Opel divisions in a €2.2bn (£1.9bn) deal.</strong></p><p>The agreement, announced a few minutes ago, will see France’s PSA Group (the firm behind Peugeot and Citroen) take ownership of Germany’s <strong>Opel</strong> and Britain’s <strong>Vauxhall</strong>. </p><p class="block-time published-time"> <time datetime="2017-03-06T07:15:21.126Z">7.15am <span class="timezone">GMT</span></time> </p><p><strong>Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.</strong></p><p>There’s a lot afoot this morning, starting with the car industry, as General Motors seals a deal to sell its Opel and Vauxhall divisions to France’s PSA.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/05/standard-life-and-aberdeen-asset-management-confirm-merger-talks">Standard Life and Aberdeen Asset Management confirm merger talks</a> </p><p lang="en" dir="ltr">Our European opening calls:<a href="https://twitter.com/search?q=%24FTSE&amp;src=ctag">$FTSE</a> 7365 down 9<br>$DAX&nbsp;11984 down 43<br>$CAC&nbsp;4992 down 3<a href="https://twitter.com/search?q=%24IBEX&amp;src=ctag">$IBEX</a> 9791 down 8<a href="https://twitter.com/search?q=%24MIB&amp;src=ctag">$MIB</a> 19639 down 26</p><p> <span>Related: </span><a href="https://www.theguardian.com/uk-news/2017/mar/06/chancellors-budget-to-build-up-brexit-reserves-not-tackle-nhs-crisis">Chancellor's budget to build up Brexit reserves, not tackle NHS crisis</a> </p> <a href="https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live">Continue reading...</a>BusinessVauxhallGeneral MotorsStandard LifeAberdeen Asset ManagementAutomotive industryInsurance industryMon, 06 Mar 2017 18:03:32 GMThttp://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-livePhotograph: Tony Margiocchi/Barcroft ImagesPhotograph: Tony Margiocchi/Barcroft ImagesGraeme Wearden (until 2.45pm) and Nick Fletcher2017-03-06T18:03:32ZPeugeot-Citroën chief vows to save jobs in Vauxhall/Opel takeoverhttps://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motors
<p>PSA Group buys carmakers from General Motors for £1.9bn and wants to turn them around without plant closures or job cuts</p><p>The chief executive of the French company behind Peugeot and Citroën has vowed to turn Opel and Vauxhall around without factory closures or job cuts, after agreeing to buy General Motors’ lossmaking European arm for €2.2bn (£1.9bn).</p><p><a href="https://www.theguardian.com/business/2017/feb/14/general-motors-sell-vauxhall-opel-psa-citreon-peugeot">The acquisition of Opel/Vauxhall</a>, which generated revenues of €17.7bn last year, will transform PSA Group into the second-biggest carmaker in Europe, after Volkswagen.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/06/vauxhall-workers-luton-ellesmere-port-psa-group-takeover">PSA sale no surprise to Vauxhall workers used to facing uncertain fate</a> </p><p lang="en" dir="ltr">Govt must be proactive after PSA GM sale to protect many thousands of jobs at Vauxhall and in the supply chain <a href="https://twitter.com/hashtag/PSAsale?src=hash">#PSAsale</a></p> <a href="https://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motors">Continue reading...</a>VauxhallCitroënVolkswagen (VW)Automotive industryBusinessGeneral MotorsEuropeWorld newsMergers and acquisitionsGermanyFranceUK newsMon, 06 Mar 2017 12:35:46 GMThttp://www.theguardian.com/business/2017/mar/06/peugeot-citroen-psa-group-buys-vauxhall-opel-gm-motorsPhotograph: Tony Margiocchi/Barcroft ImagesPhotograph: Tony Margiocchi/Barcroft ImagesJulia Kollewe2017-03-06T12:35:46ZPeugeot owner PSA close to deal to buy Vauxhall and Opelhttps://www.theguardian.com/business/2017/mar/03/psa-close-to-deal-for-general-motors-vauxhall-and-opel-brands
<p>Sale will trigger battle between French, German and UK governments to protect car plants and jobs in their countries</p><p>The owner of Peugeot and Citroën is close to completing a deal with General Motors to buy its European car brands Vauxhall and Opel.</p><p>Groupe PSA and GM could announce a deal as early as Monday morning after successful talks between the carmakers.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/feb/24/vauxhall-psa-unite-peugeot-citroen">Vauxhall production guaranteed until at least end of decade, PSA tells union</a> </p> <a href="https://www.theguardian.com/business/2017/mar/03/psa-close-to-deal-for-general-motors-vauxhall-and-opel-brands">Continue reading...</a>VauxhallGeneral MotorsAutomotive industryBusinessFranceEuropeUK newsGermanyVince CablePoliticsSat, 04 Mar 2017 07:26:55 GMThttp://www.theguardian.com/business/2017/mar/03/psa-close-to-deal-for-general-motors-vauxhall-and-opel-brandsPhotograph: Bloomberg/Bloomberg via Getty ImagesPhotograph: Bloomberg/Bloomberg via Getty ImagesGraham Ruddick2017-03-04T07:26:55ZBMW considers making electric Mini outside UK due to Brexit worrieshttps://www.theguardian.com/business/2017/feb/27/bmw-electric-mini-germany-uk-brexit-germany-oxford
<p>Suggestion that carmaker could produce vehicle in Germany instead of Oxford comes amid fears over Vauxhall’s future</p><p>The new electric Mini could be made in Germany rather than the UK because of the uncertainty caused by Brexit.</p><p>Most Minis are manufactured at its plant in Oxford, one of the biggest factories in the country, but BMW, the owner of the brand, is considering making the electric version of the car in Germany.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/feb/24/vauxhall-psa-unite-peugeot-citroen">Vauxhall production guaranteed until at least end of decade, PSA tells union</a> </p> <a href="https://www.theguardian.com/business/2017/feb/27/bmw-electric-mini-germany-uk-brexit-germany-oxford">Continue reading...</a>BMWAutomotive industryVauxhallGeneral MotorsBusinessUK newsGermanyEuropeBrexitPoliticsEuropean UnionMon, 27 Feb 2017 18:21:12 GMThttp://www.theguardian.com/business/2017/feb/27/bmw-electric-mini-germany-uk-brexit-germany-oxfordPhotograph: Leon Neal/AFP/Getty ImagesPhotograph: Leon Neal/AFP/Getty ImagesGraham Ruddick2017-02-27T18:21:12ZVauxhall production guaranteed until at least end of decade, PSA tells unionhttps://www.theguardian.com/business/2017/feb/24/vauxhall-psa-unite-peugeot-citroen
<p>Unite leader says boss of Peugeot and Citroën owner told him he was ‘not here to shut plants’</p><p>The boss of PSA Group, which is in <a href="https://www.theguardian.com/business/2017/feb/14/general-motors-sell-vauxhall-opel-psa-citreon-peugeot">talks to buy General Motors’ loss-making Opel business in Europe</a>, including Vauxhall, has given assurances to the UK government and Britain’s biggest union that production will be guaranteed until at least 2021.</p><p>Carlos Tavares has been on a charm offensive with politicians and unions in the UK and Germany, trying to soothe fears over factory closures and job losses if the takeover goes ahead. </p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/feb/23/vauxhall-job-peugeot-psa-gm-opel">Vauxhall job fears rise as Peugeot boss mentions 'speedy' savings</a> </p> <a href="https://www.theguardian.com/business/2017/feb/24/vauxhall-psa-unite-peugeot-citroen">Continue reading...</a>VauxhallAutomotive industryGeneral MotorsPeugeotBusinessUnitePoliticsTrade unionsUK newsFri, 24 Feb 2017 12:32:21 GMThttp://www.theguardian.com/business/2017/feb/24/vauxhall-psa-unite-peugeot-citroenPhotograph: Paul Ellis/AFP/Getty ImagesPhotograph: Paul Ellis/AFP/Getty ImagesJulia Kollewe2017-02-24T12:32:21ZMajor car paint suppliers join initiative against child labour in mica mineshttps://www.theguardian.com/global-development/2017/feb/24/major-car-paint-suppliers-join-initiative-against-child-labour-in-mica-mines-ppg-axalta
<p>PPG and Axalta join scheme after Guardian report linked paint used by Vauxhall, BMW and VW with mines in India reliant on child labour and debt bondage</p><p>PPG and Axalta, two of the world’s largest car paint suppliers, have joined a global initiative to purge child labour from the mica industry after a <a href="https://www.theguardian.com/global-development/2016/jul/28/vauxhall-bmw-car-firms-linked-child-labour-mica">Guardian investigation linked child labour</a> in their supply chains to Vauxhall, Volkswagen and BMW.</p><p>Although largely unknown to consumers, mica is one of the most widely used minerals globally, highly valued for its ability to reflect and refract light and found in a multitude of different products and industries. </p><p> <span>Related: </span><a href="https://www.theguardian.com/global-development/2016/jul/28/vauxhall-bmw-car-firms-linked-child-labour-mica">Vauxhall and BMW among car firms linked to child labour over glittery mica paint</a> </p> <a href="https://www.theguardian.com/global-development/2017/feb/24/major-car-paint-suppliers-join-initiative-against-child-labour-in-mica-mines-ppg-axalta">Continue reading...</a>Child labourGlobal developmentBMWVauxhallAutomotive industryVolkswagen (VW)IndiaSouth and Central AsiaWorld newsEmploymentFri, 24 Feb 2017 07:00:25 GMThttp://www.theguardian.com/global-development/2017/feb/24/major-car-paint-suppliers-join-initiative-against-child-labour-in-mica-mines-ppg-axaltaPhotograph: Nita Bhalla/ReutersPhotograph: Nita Bhalla/ReutersPeter Bengtsen2017-02-24T07:00:25ZVauxhall job fears rise as Peugeot boss mentions 'speedy' savingshttps://www.theguardian.com/business/2017/feb/23/vauxhall-job-peugeot-psa-gm-opel
<p>Just hours after talking with Theresa May the PSA chief says adding GM’s Opel and Vauxhall brands would create cost savings</p><p>The boss of PSA Group said the French carmaker’s <a href="https://www.theguardian.com/business/2017/feb/14/general-motors-sell-vauxhall-opel-psa-citreon-peugeot">proposed purchase of General Motors’ lossmaking European business</a> could bring “speedy” savings, prompting fresh fears over job cuts at Vauxhall in the UK – just hours after speaking to Theresa May.</p><p>Carlos Tavares, the chief executive of PSA, which owns Peugeot, Citroën and DS, said on Thursday morning that adding GM’s German Opel and British Vauxhall brands would attract new customers and generate substantial cost savings. An outline agreement is expected to be announced as soon as next week, before the Geneva motor show starts on 6 March.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/feb/22/uk-to-draw-up-response-to-foreign-takeovers-of-firms-business-secretary-bid-unilever-jobs-carmaker-vauxhall">UK to draw up response to foreign takeovers after failed Unilever bid</a> </p> <a href="https://www.theguardian.com/business/2017/feb/23/vauxhall-job-peugeot-psa-gm-opel">Continue reading...</a>VauxhallGeneral MotorsPeugeotCitroënAutomotive industryBusinessUK newsFranceGermanyEuropeThu, 23 Feb 2017 15:45:42 GMThttp://www.theguardian.com/business/2017/feb/23/vauxhall-job-peugeot-psa-gm-opelPhotograph: Phil Noble/ReutersPhotograph: Phil Noble/ReutersJulia Kollewe2017-02-23T15:45:42ZUK plans draft response to foreign takeovers after failed Unilever bidhttps://www.theguardian.com/business/2017/feb/22/uk-to-draw-up-response-to-foreign-takeovers-of-firms-business-secretary-bid-unilever-jobs-carmaker-vauxhall
<p>Business secretary cites decision on Hinkley Point C nuclear plant as he tries to allay concerns over future of British firms</p><p>The business secretary, <a href="https://www.theguardian.com/politics/greg-clark">Greg Clark</a>, has pledged to outline how the government should respond to foreign takeovers of crucial UK firms in the wake of<a href="https://www.theguardian.com/business/2017/feb/20/how-unilever-foiled-kraft-heinzs-115m-takeover-bid-warren-buffett"> Kraft Heinz’s failed £115bn bid for Unilever</a>.</p><p>Speaking at a conference in London, Clark said he would draft proposals in the coming weeks to show how ministers should handle controversial takeover bids, including bids for infrastructure projects by foreign corporations.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/feb/22/unilever-takes-steps-fend-off-future-bid-kraft-heinz">Unilever takes steps to fend off renewed bid from Kraft Heinz</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/feb/20/vauxhall-government-vows-protect-jobs-uk-plants-psa-group-general-motors">Fears grow for Vauxhall jobs as government vows to do all it can</a> </p> <a href="https://www.theguardian.com/business/2017/feb/22/uk-to-draw-up-response-to-foreign-takeovers-of-firms-business-secretary-bid-unilever-jobs-carmaker-vauxhall">Continue reading...</a>Mergers and acquisitionsGreg ClarkVauxhallUnileverGeneral MotorsHinkley Point CBusinessPoliticsUK newsAutomotive industryWed, 22 Feb 2017 16:10:20 GMThttp://www.theguardian.com/business/2017/feb/22/uk-to-draw-up-response-to-foreign-takeovers-of-firms-business-secretary-bid-unilever-jobs-carmaker-vauxhallPhotograph: Chris Radburn/PAPhotograph: Chris Radburn/PAAngela Monaghan and Phillip Inman2017-02-22T16:10:20ZFears grow for Vauxhall jobs as government vows to do all it canhttps://www.theguardian.com/business/2017/feb/20/vauxhall-government-vows-protect-jobs-uk-plants-psa-group-general-motors
<p>Business secretary promises ‘unbounded commitment’ to workforce as talks over deal between France’s PSA Group and US carmaker GM continue</p><p>The business secretary has promised the government’s “unbounded commitment” to protecting jobs at Vauxhall amid concerns over the carmaker’s future.</p><p>Fears are growing about plants in Ellesmere Port and Luton as the French owner of Peugeot and Citroën, PSA Group, <a draggable="true" href="https://www.theguardian.com/business/2017/feb/14/general-motors-sell-vauxhall-opel-psa-citreon-peugeot">presses ahead with talks</a> to buy General Motors’ European business, which includes Opel in Germany and Vauxhall in the UK.</p> <a href="https://www.theguardian.com/business/2017/feb/20/vauxhall-government-vows-protect-jobs-uk-plants-psa-group-general-motors">Continue reading...</a>VauxhallAutomotive industryBusinessGeneral MotorsCitroënPeugeotLiverpoolLutonUK newsPoliticsGreg ClarkTrade unionsManufacturing sectorMergers and acquisitionsMon, 20 Feb 2017 19:31:35 GMThttp://www.theguardian.com/business/2017/feb/20/vauxhall-government-vows-protect-jobs-uk-plants-psa-group-general-motorsPhotograph: Bloomberg/Bloomberg via Getty ImagesPhotograph: Bloomberg/Bloomberg via Getty ImagesGraham Ruddick2017-02-20T19:31:35Z